The Bank of England ‘will not hesitate’ to take measures to stabilize the pound

The bank of England put forward this Monday that “it will not hesitate” to change interest rates “whatever it takes” to contain inflation and pound sterlingthat past morning fell to record lows against the US dollar.

The British central bank has set out in a statement that it will review new measures at its committee’s next regular meeting of monetary policyscheduled for November, despite market speculation about an extraordinary rate hike in light of the collapse of the British currency.

The pound’s decline was triggered on Friday, following the new minister of economyKwasi Kwarteng, announced an aggressive tax cut worth 45,000 million pounds (50,600 million euros).

Source: El heraldo